LOUDONVILLE, N.Y. (NEWS10) — The Siena College Research Institute has released its annual poll on New Yorkers’ holiday spending plans. According to the poll, 22% plan to spend more on gifts this holiday season.

This number is up from 17% in 2021, according to the poll. About 73% are either very or somewhat excited about the holiday season, which is up from 65% a year ago and is the highest Siena has polled in the past 15 years.

According to the poll, 39% believe in Santa Claus, which is the highest percentage since 2010. About 78% will be putting up a Christmas Tree, with 64% decorating an artificial tree and 34% a real tree.

Asked to name their preferred holiday greeting, 52% say “Merry Christmas” while 34% say “Happy Holidays.” The poll said 78% of New Yorkers feel very or somewhat hopeful that 2023 will be a better year than 2022.

When asked about holiday shopping, about a fourth of New Yorkers plan on spending no more
than $300 on gifts, while 19% plan on spending $1,000 or more. About 66% plan to shop in-person at small businesses this year, 65% plan to shop at small to medium-sized chain stores, and 56% plan to shop at big-box retailers. About half of New Yorkers said they will do at least half of their shopping online.

“With nearly half of all New Yorkers and over 70% of those earning $100k or more planning to spend more than $500 on gifts, it looks like stockings will be full this year,” said Siena College Research Institute Director Don Levy said. “Some are spending more because of how excited they are and how hopeful they are for a better year ahead, but some may simply recognize that
inflation has hit Santa along with all New Yorkers. Over half of residents with incomes under $50k plan to spend no more than $400 this holiday season.”

Holiday traditions

Looking forward toDreadingBoth looking forward to and dreading
Spending time with family73%7%10%
Decorating the house57%18%9%
Cooking for the holidays60%14%10%
Going to holiday parties51%18%8%
Spending money on holiday gifts38%33%13%
Going to concerts, pageants, ceremonies30%24%7%
Eating fruitcake25%32%5%
Wrapping gifts46%29%10%